The second largest network in the cryptocurrency industry Vitalik Buterin, co-founder of Ethereum (ETH)between their wallets in the last 20 days 12 million dollars worth cryptocurrency made the transfer. Suspicious activity has caught the attention of the crypto community.
11.16 Million Dollars of Ethereum (ETH) Transfer Between Wallets
According to LookOnChain’s analysis, the whale address ending in 0x9e92, which has received 9,300 ETH in the last 20 days, may somehow be tied to the developer himself. The address used to send funds ends in “0xd04d” and could most likely belong to Buterin as he only receives funds from Vb3 wallet.
vitalik.eth( @VitalikButerin) transferred 9,300 $ETH($11.16M) to whale “0x9e92” in the past 20 days.
Address “0xd04d” is probably belong to @VitalikButerinall 70,000 $ETH received from Vb3.
And whale “0x9e92” holds 170,913 $ETH($259M) now.https://t.co/LRrcqoxUhf pic.twitter.com/khCkecv2TN
— Lookonchain (@lookonchain) January 19, 2023
The account that ends with “0x9e92” currently holds 170.913 ETH ($259 Million).
After receiving the funds, the whale has a total of 170,913 Ethereums worth about $260 million. Practically speaking, this makes it one of the largest cryptocurrency holders in the market.
The history of the transaction does not show any activity that would lead us to think that the whale was actually linked to a particular exchange or functioning as an OTC desk.
Historically, transactions by Buterin have often led to an increase in Ethereum’s market volatility.
Because both institutional and retail investors often follow the accounts of crypto influencers, projects and developers.
Even as some community members assume that Buterin is willing to sell some of his holdings, Ethereum is trading at a substantial premium compared to the price we saw in the market about two weeks ago.
Ethereum price has risen massively since the beginning of the year thanks to the price performance of the second-largest cryptocurrency on the market, improved network activity, and the rise in the largest cryptocurrencies in the market such as Bitcoin.
*Not investment advice.
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